South African President Extends Central Bank Governor’s Term, Appoints New Deputy

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President Cyril Ramaphosa of South Africa has announced the extension of central bank governor Lesetja Kganyago’s term for another five years, starting from November. Additionally, Mampho Modise has been appointed as a new deputy governor of the bank.

The presidency emphasized that the re-appointment of Governor Kganyago ensures continuity and institutional stability at the reserve bank. Mampho Modise, currently serving as a deputy director-general in the National Treasury, will assume her role on 1 April for a term of five years. She succeeds former deputy governor Kuben Naidoo.